Hong Leong MSIG TakafulHong Leong MSIG TakafulHong Leong MSIG Takaful

Takaful Made Easy

HLMT Takaful Made Easy

In the spirit of brotherly co-operation, solidarity and mutual protection, Hong Leong MSIG Takaful (HLM Takaful) is committed to reaching out to everyone who wishes to participate in the takaful program. Our commitment is depicted on the cover of this profile by the cupped hands of people of various races a subtle message that takaful is all inclusive and cuts across all races and religions.

We pledge to promote takaful to everyone as a fair, transparent and universal instrument for risk management, protection and investment.

  • What is takaful
  • Comparison
  • Risk Management
  • Essential Contracts

*Takaful is a protection scheme based on mutual assistance. Takaful contributions are divided into two, one for Investment and the other for Tabarru’.

Tabarru’ is a donation to help participants who fulfil the required conditions to receive assistance.

'… Help You one another in Al-Birr and At-Taqwa (virtue, righteousness and piety); but do not help one another in sin and transgression…' (Al-Maidah : 2)
Investment Halal investment Involving prohibited element
Profit Profits sharing on investment income and surplus Profits belong entirely to the insurance company
Acceptance of risk Based on Shariah risk parameter There is no Shariah parameter involved
Legitimacy of fund Funds belong to the participants and managed by the operator for a legitimate consideration for the services rendered Funds belong to the company, though separation of assets is maintained between the shareholder and the policyholder
Sources of Regulatory Framework Divine justified principles:
  • Primary sources
  • Secondary sources
  • Specific sources
  • Shariah specific sources
  • Shariah based precedents
  • Juristic opinion (fatwa)
  • Decisions of the Committee
Man – made Law:
  • Statutes
  • Case laws
  • Miscellaneous
  • Specific sources
Regulatory Authorities
  • IFSA
  • MOF
  • Central Bank and subject to the Shariah Principles
  • FSA
  • MOF
  • Central Bank; subject to the Common law

Risk is defined as the probability or possibility of lost and hazard that could happen. Risk has captured attention in Islam as reflected in the al-Quran and Hadith of the Prophet:

‘...Verily If you leave your beneficiary in rich is better from your leave them in poor and cadge from other people...’ (Bukhari and Muslim)

Contract in Shariah include both bilateral and unilateral

A contract is also known as ‘aqad’ (arabic term) is defined as the interrelation of offer and acceptance on the subject matter (ma’aqud ‘alaih)

Any contract dealing with transfer of property will need additional underlying contract that meet the purpose of the contract

Level 5, Tower B, PJ City Development,
No.15A, Jalan 219, Seksyen 51A,
46100 Petaling Jaya, Selangor
Tel: (603) 7650 1800
Fax: (603) 7620 6730